Prior to RenCap, Lumelleau spent 11 years at Goldman Sachs, most recently as head of EEMEA equity sales in New York; and three years at Credit Suisse First Boston, where he covered institutional accounts in the Emerging European markets. He will take up his new role on 3 October 2011.

'We are pleased to welcome Richard to RenCap', said Anthony Simone, Chief Executive Officer of RenCap Securities, Inc. 'He has a proven track record of building and driving successful teams and providing superior client coverage'.

Lumelleau will report to Yonatan Gozdanker, Global Head of Equities for the Firm; and Anthony Simone, CEO of RenCap Securities, Inc.

About RenCap Securities, Inc.

RenCap Securities, Inc. is the U.S. subsidiary of Renaissance Capital. Renaissance Capital is a leading investment bank focused on the emerging markets of Russia, the CIS, Eastern Europe, Asia and Africa. The Firm also offers its clients access to these markets through financial centres such as London, New York and Hong Kong. Renaissance Capital has market-leading positions in each of its core businesses - M&A, equity and debt capital markets, securities sales and trading, research, and derivatives. The Firm is building market-leading practices across emerging markets globally in metals & mining, oil & gas and agriculture. Renaissance Capital is part of Renaissance Group.